Proposal Process
The community of POOL holders makes decisions through governance proposals. Proposals are accepted or rejected using an on-chain voting process. Anyone, who holds or has delegated >10,000 POOL, can submit a proposal to PoolTogether governance.
All proposals should be submitted as one of the valid proposal types stated below and follow the outlined proposal process:
The following timeline is recommended and should be considered when creating a proposal.
- RFC: 5 days (minimum)
- PTIP/TBR: 24 hours (minimum)
- Submit on-chain: 5 days (does not vary)
Note: This timeline can vary based on community approval.
All major discussions should start on the governance forum to be reviewed by anyone in the PoolTogether community.
- New topics auto-populate with the corresponding proposal template
- Marked as Request for Comments by adding [RFC] to the title.
- Include a poll to approve or reject.
Once submitted, the forum discussion should be open for feedback from the community for at least 5 days (assuming it is well-formed).
- If the proposal does not get explicit approval or is still highly contested, the proposer should -continue to seek feedback from the community and submit an amended proposal.
- If the proposal has strong support, the proposer can create a corresponding PTIP/TBR.
After applying potential community feedback to the proposal, the proposer should:
- flag the RFC thread to be locked
- state the changes made to the initial RFC
and leave the topic open for at least 24 hours, before submitting the proposal on-chain and creating the corresponding Snapshot.
When it comes time to create an on-chain proposal, the proposer must:
- 1.
- 2.
- 3.Update the forum post with links to the on-chain proposal and snapshot vote
The POOL Pool Snapshot allows POOL pool ticket holders to participate in proposal voting.
This pool’s voting power is delegated to a multi-sig whose signers are community members. When there is an on-chain proposal there must be a corresponding vote in the POOL Pool Snapshot. The multi-sig must vote according to the result of the POOL Pool Snapshot. Learn more.
After a proposal is submitted on-chain a 5-day voting period begins. A proposal succeeds, if after five days
- the majority of votes are in favor (approval threshold of 51%)
- AND at least 100,000 votes have been cast in favor (Quorum of 1%).
If a proposal succeeds, the proposer (or any other person) can queue Proposal.
There is a two day timelock before the proposal is actually implemented. After the timelock has expired, the proposal can be executed.
In case a proposal does not pass a governance vote, the proposal will not be executed. If the proposer wishes to iterate on a proposal that has been rejected, they should:
- 1.Create a new proposal thread on the Forum.
- 2.Include a link to the first proposal that did not pass.
- 3.Clearly identify what has changed in the new proposal.
- If a proposer does not hold their votes throughout the full time of the on-chain proposal, then the proposal can be canceled by anyone.
- Urgent, security-related PTIPs may progress to an on-chain proposal immediately.
Proposal Type | Forum Title Format | Description | Quorum | Approval Threshold |
|---|---|---|---|---|
PTIP
PoolTogether Improvement Proposal | PTIP-Id:
eg. PTIP 89: | Process for changing the protocol or distributing treasury funds | 1% (100,000 POOL) | 51% |
TBR
Team Budget Request | TBR-QX-Year:
eg. TBR-Q2-2023: | Process for requesting funds | 1% (100,000 POOL) | 51% |
The PTIP process is a modified version of Badger Improvement Proposals and Yearn Improvement Proposals.
Last modified 1mo ago